How is the Campbell real estate market? Campbell is in a strong seller’s market that has finally outstripped this time last year. This article, updated monthly, offers data and analysis on the residential real estate market within this popular Silicon Valley community. Here are a few details from the latest update on Campbell’s single family housing market:
Inventory is still well below normal. Smaller pools of data can cause more dramatic swings in these statistics, so take these numbers with a grain of salt.
The average sales to list price ratio for homes sold last month dropped to 106.2% of asking – that’s still red hot, and completely overtaking last year’s August numbers.
The price gap between 2022 and 2023 has flipped with this August average and median prices up +10.0% and +11.6% from last year respectively.
Average days on market sped to 9 and market absorption sped to just 19 days. The best homes are being snatched up quickly.
August saw closed sales more than double month-over-month with a slight increase in pending sales and a massive drop in active inventory.
The market in this popular west valley city is red hot overall!
A quick look at the cost of starter homes in Campbell today
To supplement the info we normally provide here, let’s take a look at what it costs to buy a starter home in Campbell. For our study, a starter home is defined simply as a home with no more than 1,500 SqFt of living space. We only had 5 houses that match this description close in all of August, here are the averages for those homes:
# of sales – 5
Home size – 1,256 SqFt
Lot size – 6,644 SqFt
Days on market – 4
Average list price – $1,453,600
Average sale price – $1,563,000
Sale to list price ratio – 107% (minimum was 94%, maximum was 117%)
Age of home – 62 years
Price per SF – $1,251.96
And for move up houses with 1,500 – 2,000 SqFt:
# of sales – 13
Home size – 1,674 SqFt
Lot size – 7,636 SqFt
Days on market – 10
Average list price – $1,718,660
Average sale price – $1,823,373
Sale to list price ratio – 106% (minimum was 97%, maximum was 114%)
Age of home – 66 years
Price per SqFt – $1,091.46 (it is typical that a larger sized home will have a smaller price per SqFt than a smaller one, and it’s the reason why when pricing using comparable sales it’s ideal to stay within 10% of the home size)
The Campbell, CA Real Estate Market
It’s hard to predict what’s coming next, especially since Silicon Valley real estate is connected to the global economy and many buyers rely on stocks and mortgage loans to finance their purchase. On top of that, we’re emerging from an already wild few years!
If you’re selling a well prepared, beautifully staged, and aggressively priced house, you’ll likely see multiple offers on your home for sale. We’ve been seeing more bidding wars, but not with overbids quite as high as last spring. Competition for homes has undoubtebly waned from it’s peak as buyers financial power shrank with rising interest rates. That said, with even fewer homes being listed this year there’s still far more demand than there is inventory, especially for a move-in ready home!
Desperate and worn out buyers want to get their foot in the door before they are priced out of the market altogether by either climbing interest rates or rising home prices.
Don’t expect a balanced market any time soon – California still has a severe housing shortage and buyers are still clamoring to get property!
Here’s a quick view of the Campbell real estate market stats from Altos Research, using list prices (not sales price) which updates automatically about once per week:
The Altos chart is showing Campbell, CA single family homes in a strong seller’s market with a recent decline in market action paired with steadily low inventory. Inventory remains well below typical, and these few homes continue to sell quickly.
And now – here are some quick stats, pulled from the MLS (Multiple Listing Service) through the RE Report:
Saratoga has a diverse real estate market due to a wide range of home prices, square footage, lot sizes, school districts, and more. The luxury tier, generally $4 million and up (but in Saratoga, that’s really still just a house in an expensive zip code) normally moves slower than other price points. Saratoga’s entry level housing is usually the strongest. If the numbers swing wildly at any given month, it could be that more or fewer homes in a particular school district and pricing tier.
To really understand the Saratoga CA real estate market, you’ll need to get hyper local data for that home’s pricing tier, school district, and any other impactful data points.
With a mere 17 sales in August, the numbers are not as reliable as if we had either a larger pool or if the homes sold were all in the same school district, tract, etc. No just 21such luck. What’s best at times like these is to study the absorption rate and sale to list price ratio. The absorption rate is just 30 days of inventory (a warm seller’s market) and the sale to list price ratio is 101.2% (a seller’s market). The days on market are a swift 21. See a good property? Don’t assume it will last or that it will sell under list price!
Trends at a Glance for the Saratoga CA Real Estate Market
Data below for the Saratoga CA real estate market is from the ReReport.
Trends At a Glance
Aug 2023
Previous Month
Year-over-Year
Median Price
$4,400,000 (+18.9%)
$3,700,000
$3,712,500 (+18.5%)
Average Price
$4,575,290 (+28.1%)
$3,572,380
$3,644,270 (+25.5%)
No. of Sales
17 (+30.8%)
13
26 (-34.6%)
Pending
18 (+5.9%)
17
20 (-10.0%)
Active
17 (-26.1%)
23
38 (-55.3%)
Sale vs. List Price
101.2% (-1.0%)
102.1%
95.6% (+5.8%)
Days on Market
21 ( no change)
21
33 (-35.8%)
Days of Inventory
30 (-43.5%)
53
44 (-31.6%)
Next, a quick glance at the Altos Research market profile for a quick summary of the Saratoga CA real estate market conditions. Altos uses LIST prices, not sold prices, for this chart and the others, below.
Altos Research – list prices for Saratoga CA 95070(more…)
What is the agent visual inspection, or AVID, and why is it required with home sales in California?
The short answer on the purpose of the AVID
When real estate sales people represent buyers and sellers on residential real estate transactions in CA, they must do a visual inspection of the property as part of their disclosure obligations. In other words, they are required to walk through the property, inside and out, and look carefully at what they sell and advise the parties to the contract of any red flags noticed.
This is required by the state. It is not optional.
If an attentive Realtor walks through and notes something that would make a buyer unhappy to discover after close of escrow, that agent needs to note it on the required form so that any such concerns are disclosed to the home buyer(s).
Video discussing the AVID, or Agent Visual Inspection Disclosure
Where do the agents write up their visual inspection disclosure comments?
Agent Visual Inspection Disclosure, top of page 1
Sometimes the real estate licensees will simply make a few comments on page 3 of the Transfer Disclosure Statement (TDS). More and more, though, they are completing the separate 3 page AVID (Agent Visual Inspection Disclosure) form instead. It is larger and allows for more thorough list of items noted. Both approaches are permitted by law to fulfill that obligation, though.
Hunting for more Campbell’s most affordable homes for sale? It can be argued that nothing is either inexpensive or affordable, however we want to consider the Campbell real estate options relative to other Silicon Valley communities and their prices. There are always higher and lower priced properties.
Campbell’s most affordable homes: beware the price mirage
Sometimes the lowest listing price of a home on the market is not actually going to be the lowest selling price. It could just be bait. Some sellers and their listing agents vastly underprice houses, townhouses, and condos on the market in order to get an avalanche of offers. I refer to that as a price mirage – it looks good but isn’t real.
Don’t be fooled be an artificially low list price. Often a quick check of the property on Realtor.com can provide some decent pricing input. The pages for listings usually include a RealEstimate section that features up to 3 auto comp values. These automatic valuations aren’t foolproof, but if a house is listed for $900,000 and the Realtor.com page suggests a value of $1.6 to $1.8, you are put on notice that it may be grossly underpriced. You can check the other large portals, too, as a reality check on values.
Elements that create opportunity to get more home for your money
Every city, town, and community has more and less affordable pockets and properties. Campbell’s most affordable homes for sale may have one of these elements at play.
The pricing variation often has to do with a few major areas: (more…)
1252 Chiapas Terrace, San Jose, CA 95126 PENDING in 7 days with 5 offers!
We are delighted to present our newest listing, 1252 Chiapas Terrace, San Jose CA 95126. This young townhome provides 2 bedrooms plus den, 2 .5 bathrooms, and an open layout with 1667 square feet. It’s full over luxury upgrades, all the features that today’s buyers want, and it’s situated in the gorgeous Altura neighborhood near Santa Clara University. The list price is $989,500.
The Quick Look at 1252 Chiapas Terrace, San Jose:
Altura townhome community built in 2006 by Pulte Homes
2 spacious bedrooms plus den with 2 ensuite full baths, and a powder room on the main floor
Main floor fully open with spacious kitchen featuring stainless steel appliances, gas range with 5 burner stove, granite counters, wood cabinetry and wide breakfast bar with pendant lights above
Washer, dryer, and Fridge all stay
Attached 2 car garage with side-by-side parking
Central air conditioning
Dual pane windows by Milgard
High ceilings, recessed lights, plantation shutters, water softener and so many extras – see the full list at the virtual tour!
MLS #ML81917776
1252 Chiapas Terrace, San Jose virtual tour and 3D walkthrough
Please visit the virtual tour: 1252ChiapasTerrace.com for the virtual tour with all photos, a 3D iGuide walk through, and under “details” you’ll find a printable PDF with the floorplan and room measurements, too.
Open house this weekend
We will be hosting an open house this weekend, Sat Feb 4 and Sun Feb 5, from 2 – 4 pm. Please stop by! (Park on Campbell Avenue or at the back of the complex along De Altura Commons.) These homes are very popular, so if you cannot make the open house, please arrange for your buyer’s agent to show you the home soon. It’s very easy for your Realtor to make the appointment with our simple online scheduling system. If you need a buyer’s agent and do not have one, please reach out to me and we can connect you with a Realtor who can show this home to you and represent you should you decide to write an offer.
Merrivale West is a very popular community of 248 townhouses, built by Ditz-Crane in beginning in 1972, in the “West San Jose” area offering beautiful grounds & homes as well as a fantastic commute location and low HOA dues (homeowner association fees).
Where is Merrivale West?
This complex is found near the intersection of San Tomas Expressway and Payne Avenue in the 95117 area of San Jose. The main road running through the neighborhood is Millich, but there are a number of smaller streets with the designation of “square” too (Merrivale Square, for instance). From this location, it’s a quick jaunt to Santana Row (just 2 miles!) or to downtown Campbell. It’s easy freeway access too. The location is one of the main reasons for the popularity of this area.
What does it cost to buy a townhouse in Merrivale West?
Homes vary in size and precise location as well as interior condition. Most properties are selling from about $900,000 to $1 million, as of late 2022. There have been sales more than 1.1 million and almost to 1.2 million at the peak of the market in Spring 2022, but prices have come down here as well as everywhere else in the valley since that time.
Larger homes, such as the 1368 sf model (2 bed/2.5 bath) generally sell at the higher end of the price spectrum. Overall, though, selection tends to be slim: homes here sell fast, and the perpetual desirability of the neighborhood helps to keep values up.
Buying a townhome in the next year? Here are some pointers to help you get up to speed more quickly.
There are a number of things to ask about and learn to make sure that you are happy with the end result of your townhouse or townhome purchase. There’s tremendous variation in townhomes across Silicon Valley, how well the property is managed, how well the finances are managed, how happy the residents are, and so on.
I’ll put my tips into 3 categories: (1) before you go, (2) things to consider while there, and (3) research if you are serious about a particular property.
Before you go – there may be things that will take the property off of your short list, such as the property condition, HOA finances or rules. There may be natural or environmental hazards that cause you to skip it. Usually these can be learned before you ever visit the property, and they can save you a lot of time.
Things to note or consider while there – some tips on what to perceive while in and near the property.
Deeper research if you are serious about buying a townhome or townhouse
Buying a townhome: a little pre-visit recon
Your real estate agent may help you with this – I do with my buyers and we can sometimes eliminate non-starters with a little research. Most people interested in buying a townhome or condo will check these out upfront:
Maps: Take a look at Google maps and see what can be learned from Google street view and the satellite image, if possible. Street view may provide info on how crowded a complex is and if there’s a parking problem if the townhomes are directly on public streets.
Sometimes there are undesirable buildings or structures right next to the complex you’re planning to visit which may be visible from either the satellite or street view. The negatives usually don’t make their way into the MLS photos, so look at these other views to get a more complete sense of the area. Recently I saw a power sub-station directly next to a unit my client wanted to see. We did visit it anyway, but many home buyers would have skipped it. You can often identify high voltage power lines from the maps, too.
The Google Satellite View will alert you to undesirable neighbors. Recently we saw a unit that backed up to something odd looking – turned out to be a gas station.
Odors: If you are buying a townhome in South County or in an area where farming takes place, be sure to zoom out on the map view to see if the property might be impacted by farm smells. In Gilroy, San Martin, and Morgan Hill, mushroom farms can be smelly if you are downwind. And…garlic happens. In Milpitas and North Valley, there are a number of odors, particularly as you get closer to the bay.
Natural and environmental hazards: you can find out upfront if the property is in a 100 year floodplain, liquefaction zone, near gas transmission lines or near a Superfund site. There are links to maps for almost every kind of hazard out there. For example, the Cal OES My Cal Hazards Awareness site can provide info on liquefaction, flood, quake, and fire zones.
Disclosures: you may be able to get them upfront and skim for the local hazards, expensive repairs needed, etc. Most of the time we can provide these before you see the home. Keep in mind that no condo, townhouse, or house is perfect, and most do need thousands of dollars in repairs, replacements, and upgrades. A good rule of thumb is to budget 1% for a condominium or townhouse.
In person visit – when you visit the townhome
Again, your Realtor should help you to see what’s amiss or what’s a big plus as you go through the grounds and the home. No home is ever perfect (not even new construction), but it’s imperative that buying a townhome you have as full knowledge as possible about it upfront.
Once in awhile, a buyer will not get the value of this input. The majority of buyers, though, appreciate it if their buyer’s agent makes sure they see things upfront, while there together. (more…)
How’s Cambrian Park condo & townhouse market? Normally we answer this question in brief with regular monthly updates over on the Cambrian Park Real Estate Market Update. Here we will provide some more depth with condominium and townhome data.
Before we dive in the the statistics for sold properties last month, let’s see what’s selling now in the Cambrian Park condo & townhouse segment of the market.
Cambrian Park Condo & Townhouse market
Just now (as of November 14, 2022), I looked into the MLS to see the condo and townhome sales in Cambrian over the last month. Inventory is painfully low, and therefore, so are the sales.
There are 8 units listed for sale as “active” (not pending or under contract)
6 are listed as condos (1 is “agent only” status, do not show)
2 are listed as townhouses (both are “agent only” status)
0 homes are under contract with one or more contingencies
0 homes are pending with no contingencies
7 condos / townhomes have sold and closed escrow in the last 30 days (4 condos, 3 townhomes)
They sold with an average of 14 days on market (condos 17 days, townhomes 9)
Average sale price to list price ratio was 101% (range 97% – 112%, condominiums averaged 99%, townhouses 104%)
Home prices appear to be down about 10% from the peak generally. It could be more or less in any given micro market.
Now let’s have a look at some of the numbers from our Real Estate Report:
Real Estate Report: Cambrian Park Condo & Townhouse Market – San Jose
Home prices are down from the peak here as they are throughout the valley. Please take the month over month and year over year sale price numbers with a big grain of salt. With so few transactions happening, there’s not enough data to be really accurate. What’s better is finding what else has sold for your home (or the one you’re interested in) recently. It should be within a mile, have the same school district, zip code, and similar location overall, and it should be within 10% of the home size of the comparable, or “comp”.
What we do know is that the days of inventory and the days on market are both longer than they were. The market is jiggling up and down a little each month, and the general trend may be that we’ve hit the bottom of pricing for now.
Trends At a Glance
Oct 2022
Previous Month
Year-over-Year
Median Price
$680,000 (-24.9%)
$905,000
$901,250 (-24.5%)
Average Price
$814,271 (-9.9%)
$903,625
$945,883 (-13.9%)
No. of Sales
7 (-12.5%)
8
18 (-61.1%)
Pending
8 (+60.0%)
5
14 (-42.9%)
Active
5 (+25.0%)
4
9 (-44.4%)
Sale vs. List Price
101.1% (+2.6%)
98.5%
102.1% (-1.0%)
Days on Market
17 (+30.6%)
13
16 (+8.3%)
Days of Inventory
21 (+47.8%)
15
15 (+42.9%)
Altos Research Live Charts
The market profiles are live, updating automatically once every week, with active inventory from MLS listings.
Most of Cambrian Park falls under the 95124 zip code. Here’s a quick look at the main real estate market data points for Cambrian 95124 this week:
What’s making it strong when prices have fallen? Mostly it’s a lack of inventory couples with a healthy buyer demand.
One of the prettiest townhome communities in Santa Clara County is Vizcaya, which features a Mediterranean style of architecture in a community that is extremely tidy and well maintained. Driving in, it feels like you’ve just arrived at a resort.
Where is Vizcaya?
The Vizacaya neighborhood is in San Jose just off S Bascom and Curtner Avenues, but is close to the Campbell border and confusingly, has a Campbell mailing address. The community’s streets are Vizcaya Circle, Vizcays Way, and Pescara Court. The location is very convenient, with easy access to shopping, bus lines, and major traffic routes.
What are the homes like at Vizcaya?
Built between 1990 and 1996, these 92 townhomes are younger feeling and tend to have fairly open floor plans and plenty of large windows. The home sizes range between 2396 SF and 2656 SF, but many are so nicely designed that they tend to feel like single family homes. Lot sizes average around 4,100 SF (pretty big for a townhouse). The parcels range in size from 2480 SF to over 10,000 SF but most are 3000 – 5000 SF.
The homes in the Vizcaya community are condominiums with a townhouse architectural style. (Some townhouses are held in PUD ownership. In some locations, such as Almaden and Los Gatos, there are houses which are condos – or held in condo ownership.) There’s a small pool and spa at the center of the complex for residents to enjoy. The day I took the photos shown in the gallery, below, painting was ongoing next to the pool, so it isn’t shown.
What does it cost to buy a townhome in Vizcaya?
These upscale properties don’t come on the market too often, but if you are lucky enough to find one available to buy, chances are that it will cost over 1.6 million or a more (as of this writing in 2022).
Vizcaya homes for sale, pending, or sold in the last 12 months:
Willow Glen is one of the most charming areas of San Jose, consisting of many older homes which feature lovely, classic architecture. Most Silicon Valley home buyers treasure the Willow Glen charm and ambiance, but many are seeking newer homes. A fabulous option is “The Willows“.
KB Homes built “The Willows” in 1999 to 2000. It is tucked away at the southernmost tip of Willow Glen, off of Foxworthy Avenue & close to Almaden Expressway, but only about 2.5 to 3 miles from all the action on Lincoln Avenue.
The tree-lined streets are built in something of a loop shape with Rubino Circle being the main access or loop road. Situated on the inner part of the loop are homes with smaller lots that are a little more affordable. The outer part of the circle is built with slightly larger homes on larger lots (but none of the lots are “big”). Sidewalks with soft curbs at the corners accompany the streets and make for a pedestrian-friendly, bike, wheelchair or stroller friendly area. Visit in the early evenings and you will see children and adults walking, strolling, taking dogs for a walk etc. – always a good sign! Because the neighborhood is a bit like an oversized cul-de-sac (no through traffic), it is very quiet in terms of traffic. The area has large street lights, too, making for a safe feeling community.
Christie's International Real Estate Sereno, Los Gatos, CA 95030 408 204-7673 Mary@PopeHandy.com License# 01153805
Clair Handy, Realtor
GREEN
Christie's International Real Estate Sereno 214 Los Gatos-Saratoga Rd Los Gatos, CA 95030 ClairHandy@sereno.com License# 02153633
Mary & Clair sell homes throughout Silicon Valley: Santa Clara County, San Mateo County, and Santa Cruz County. with a special focus on: San Jose, Los Gatos, Saratoga, Campbell, Almaden Valley, Cambrian Park.
The real estate search
Use this link to browse properties which are for sale, under contract (pending) or sold. Want to view only homes which are available now?
This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
Strictly Necessary Cookies
Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.
If you disable this cookie, we will not be able to save your preferences. This means that every time you visit this website you will need to enable or disable cookies again.
Hunting for more Campbell’s most affordable homes for sale? It can be argued that nothing is either inexpensive or affordable, however we want to consider the Campbell real estate options relative to other Silicon Valley communities and their prices. There are always higher and lower priced properties.
Merrivale West is a very popular community of 248 townhouses, built by Ditz-Crane in beginning in 1972, in the “West San Jose” area offering beautiful grounds & homes as well as a fantastic commute location and low HOA dues (homeowner association fees).
Buying a townhome in the next year? Here are some pointers to help you get up to speed more quickly.
How is the Campbell real estate market? Campbell is in a strong seller’s market that has finally outstripped this time last year. This article, updated monthly, offers data and analysis on the residential real estate market within this popular Silicon Valley community. Here are a few details from the latest update on Campbell’s single family housing market:
